Commenting on operating results, Richard A. Smith, President and Chief Executive Officer of FelCor, said, “Our portfolio continues to produce solid results. Third quarter comparable Hotel EBITDA increased by almost 13%, led by a 53% increase for our newly acquired and recently redeveloped hotels. We are proud that RevPAR for our comparable portfolio once again outperformed the industry. Based on the outstanding condition of our portfolio and favorable industry fundamentals, our outlook for continued RevPAR growth remains optimistic.”

Mr. Smith added, “We continue to make substantial progress repositioning our portfolio. We have sold five hotels this year, for a total of 24 hotels since we began the current phase of dispositions, and have three hotels under contract. Through the combination of asset sales and EBITDA growth, we continue to strengthen our balance sheet, reduce leverage and grow stockholder value. As a result, we are pleased to announce that we have reinstated our common dividend.”

Common Dividend:

Our board has declared a $0.02 per share quarterly common stock dividend for the fourth quarter. The board has reinstated our common dividend recognizing the ongoing success of our portfolio repositioning and restructured balance sheet, as well as our positive funds available for distribution (“FAD”) this year. The dividend will be paid in January 2014. Future quarterly dividends will be based on estimates of FAD, reinvestment opportunities within our portfolio and taxable net income, among other things.

Summary of Third Quarter Hotel Results:

Third Quarter

2013

2012

Change

Comparable hotels (52)

RevPAR

$

117.18

$

109.42

7.1

%

Total hotel revenue, in millions

$

204.6

$

190.3

7.5

%

Hotel EBITDA, in millions

$

52.0

$

46.2

12.7

%

Hotel EBITDA margin

25.4

%

24.3

%

119 bps

Wyndham Hotels (8)

RevPAR

$

96.31

$

120.90

(20.3

)%

Total hotel revenue, in millions

$

26.4

$

32.7

(19.1

)%

Hotel EBITDA, in millions

$

10.0

$

10.9

(8.4

)%

Hotel EBITDA margin

37.8

%

33.4

%

444 bps

Same-store hotels (60)

RevPAR

$

114.19

$

111.08

2.8

%

Total hotel revenue, in millions

$

231.0

$

223.0

3.6

%

Hotel EBITDA, in millions

$

62.0

$

57.1

8.7

%

Hotel EBITDA margin

26.9

%

25.6

%

126 bps

RevPAR for our 37 comparable core hotels (45 core hotels that exclude the eight Wyndham hotels) increased 7.4% compared to the same period in 2012, while RevPAR for our 15 non-strategic hotels increased 5.5% compared to the same period in 2012.